Exchange posted 35% profit growth in 2013

The Philippine Stock Exchange grew its net profit last year by 35.1 percent to P844.8 million as the robust equities market boosted listing and trading-related income.

“The significant growth in our revenue and income highlights the resilience of the company amid the market volatility arising from uncertainties in the US economy,” PSE president Hans Sicat said.

The PSE’s revenue jumped by 33.8 percent to P1.53 billion as all income components showed notable growth. Listing-related income grew by 28.5 percent to P160.07 million as 10 firms sold shares through the bourse.

Eight companies conducted their initial public offerings in 2013, namely, Philippine Business Bank and Asia United Bank, AG Finance Inc., Harbor Star Shipping Services Inc., Travellers International Hotel Group Inc., Robinsons Retail Holdings Inc., Discovery World Corp. and Concepcion Industrial Corp., while two companies—Del Monte Pacific Ltd. and First Metro Exchange Traded Fund—listed by way of introduction.

Del Monte Pacific is also listed on the Singapore stock exchange.

Trading-related income surged by 59.4 percent to P118.09 million on the back of robust trading volumes. Service fees from Securities Clearing Corp. of the Philippines (SCCP), PSE’s subsidiary, rose by 43.7 percent to P454.68 million.

The market’s total value turnover grew by 43.7 percent to P2.55 trillion while daily average turnover shot up by 44.9 percent in 2013.

On the expenditure side, the PSE efficiently controlled growth in its expenses to 6 percent amounting to P528 million.

This year, the PSE expects capital raising activities to surpass the P175  billion that was raised in 2013. Doris C. Dumlao